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Updated: 3:24 AM Apr 21, 2008
New Housing Could Hurt Madison Landlords
Some Madison officials warn new student apartments around the University of Wisconsin have the potential to create a new housing spiral in neighborhoods left behind.
Posted: 3:24 AM Apr 21, 2008 |
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Some Madison officials warn new student apartments around the University of Wisconsin have the potential to create a new housing spiral in neighborhoods left behind.
City building inspector George Hank says that as students leave for newer properties, some landlords won't be able to have the cash flow to maintain the buildings.
Leaders from neighborhoods, the university, nearby hospitals and others are seeking a $50,000 city grant to help plan preservation of the older structures possibly by converting them to owner-occupied housing for young families and workers.
The city wants to prevent neighborhoods from decaying and employers want to help workers find affordable housing near their jobs.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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